Record $1.5 Billion Crypto Theft Linked to Lazarus Group

On February 21, 2025, the exchange Bybit suffered the largest cryptocurrency hack in history. The attackers, identified by the FBI as North Korea’s Lazarus Group (specifically "TraderTraitor" actors), compromised a developer machine at the third-party provider Safe{Wallet}. This allowed them to bypass multi-signature security protocols and exfiltrate 400,000 ETH. While Bybit eventually replenished its reserves, the event caused a permanent shift in how South Korean regulators treat crypto platforms.